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Dana White Explains the Bud Light Deal with Dana White and Stephen Moore

The Charlie Kirk Show / Charlie Kirk
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October 26, 2023 5:12 pm

Dana White Explains the Bud Light Deal with Dana White and Stephen Moore

The Charlie Kirk Show / Charlie Kirk

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October 26, 2023 5:12 pm

A conservative boycott has cost Bud Light hundreds of millions of dollars. But what is the final goal: Bankrupting the brand, or changing its behavior? Dana White of UFC just signed a nine-figure deal with Anheuser Busch. He joins Charlie to explain why he's made this partnership, and to explore his success at running the world's fastest-growing sports league without folding to woke pressures. Plus, Stephen Moore reacts to the Biden government's Pravda-esque celebration of fake economic growth.

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Salem News Channel is unfiltered and unapologetic. Watch anytime, on any screen, at and local now channel 525. Hey everybody, the Charlie Kirk Show. Dana White joins us to address the Anheuser-Busch controversy.

And then we have Steve Moore to talk about the wonderful Biden economy. Email us as always, freedom at Subscribe to our podcast. Open up your podcast application and type in Charlie Kirk Show. Get involved with Turning Point USA at

That is Email us as always, freedom at Buckle up everybody. Here we go. Charlie, what you've done is incredible here. Maybe Charlie Kirk is on the college campus. I want you to know we are lucky to have Charlie Kirk. Charlie Kirk's running the White House, folks. I want to thank Charlie. He's an incredible guy. His spirit, his love of this country. He's done an amazing job building one of the most powerful youth organizations ever created, Turning Point USA. We will not embrace the ideas that have destroyed countries, destroyed lives, and we are going to fight for freedom on campuses across the country. That's why we are here.

Brought to you by the loan experts I trust, Andrew and Todd at Sierra Pacific Mortgage at Joining us now is Dana White, President of the UFC. Dana, thanks for taking time. Dana, there's some big news you want to share with the audience. It's been going viral and I'm 100% behind you, Dana.

Share it with our audience and let's dive into it. Yeah, how are you? Thanks for having me. Good to see you.

Good to see you. We just did, you know, our beer deal was up with the UFC and we just renewed a deal with Anheuser-Busch and Bud Light. They were our original sponsor a few years ago when we first got our first big beer sponsor and we are back together again. Yeah, and so here's my take on this, Dana, is first, you know, we complain very loudly when companies funnel money to woke stuff, right? They put all this money towards garbage.

So it follows that we should be happy and thrilled when they do the opposite. Talk about the core values at UFC, Dana, and kind of why you came to this decision. Well, you know, as you get into negotiating a new big sponsorship deal, you know, where you're going to be in long-term business with somebody, I always want to be, I'm at a point in my life, I'm at a point in my career where we're going to get the money no matter who we do the sponsorship deal. You know, everybody's like when they start talking about being a sellout and you did this, I'm going to get money from whoever I end up with. It's a sponsorship deal.

That's how it works. I want to be with somebody that I am aligned with and I know that, you know, obviously all the controversy that's gone on with Anheuser-Busch and Bud Light over the last however long it's been but when it comes to core values and what they really are as a company and then the reason that they've been this unbelievable, powerful, American-built business, a lot of their core values align with mine. As far as military, I'm a big supporter of military and law enforcement. I love their, you know, their thing that they do. Folds of Honor. Folds of Honor. Yeah.

Exactly. Where they, you know, have they've spent like 44 million dollars over the last however many years for scholarships for fallen heroes, you know, whether it's military or first responders and I could go on and on for days about how much I am aligned with Anheuser-Busch. Hey, whenever there's a big natural disaster in the United States, they turn the plant into a water bottling factory and they've done like 100 million bottles of water for people in need during natural disasters. So as we got down to it, we started to talk and I met with the CEO of Anheuser-Busch.

It was a no-brainer for me. Yeah. And so look, you know, a lot of people in the last couple of months, you could see that the effort against, you know, Anheuser-Busch was very, very successful. The question is what does success look like, right?

And we as conservatives and our audience need to ask ourselves the question. Right. And I consider it pretty amazing and awesome that they want to partner with you, Dana, at UFC. And by the way, we played that hype reel. You were the best on COVID. You've been great for Trump. You've been great for the country, great on conservative values.

And so, Dana, I want also to build this out that value alignment. But this is a this is a good thing to all of a sudden say, wait a second. So Anheuser-Busch, they made a mistake with this Dylan Mulvaney thing, no doubt. Right. But it was a one off can influencer thing. But isn't this a big isn't this a movement in the right direction and a win and a success that they want to do business with you, Dana?

And also, you've had your pick of the litter, right? You know, there's no lack of companies that want to do business with UFC. Right. And, you know, this isn't, again, like I was saying, you know, you got everybody out there creating their own narratives. This is a sponsorship deal.

There are people at the table. You know, I could have picked anybody. I picked Anheuser-Busch.

And I picked him for all the reasons that I laid out for you. And yeah, there's no doubt that, you know, the fact that Anheuser-Busch wants to be in business with me, they know exactly what they're getting. They know who I am. They know what I stand for. And not just me personally, but the UFC. If you look at, you know, I could do a fight in San Francisco, OK? And Trump could walk in and the place is going to erupt. Our fan base is very conservative.

Yeah, they love the country. So, Dana, your critics are saying that you're reading a script. If anyone knows Dana White, they know that you're not. You had a response to that last evening. Do you mind repeating it for our audience? Yeah, I saw some people said, oh, look, it sounds like Anheuser-Busch is going to be there.

Anheuser-Busch wrote a script for him. Nobody writes scripts for me. Nobody tells me what to say.

Nobody tells me what to do. I mean, for instance, going through COVID was absolutely positively the hardest thing that I have ever done. I built the UFC from zero to where it is today. Going through COVID was harder than any of that. It was the toughest thing I've ever done. And you think people weren't telling me, don't do this.

You can't do this. You're going to kill people. This is irresponsible.

I mean, the list goes on and on. The bottom line is if you know me or you know anything about me, nobody tells me what to do. Nobody tells me what to say, especially when it comes to things like this that I really believe in. I love this country. Love this country. I built a global brand.

I have fighters from all over the world. I let everybody represent their country. Everybody be proud of their country, their religion, who they are, where they come from. Freedom of speech for everybody. It's the fight business. If people hurt people's feelings too bad. This is this is the business we're in.

And nobody speaks for me and nobody tells me what to say. Well, yeah. And this is what's important, right? Is that it's lead, follow or get out of the way, as General Patton would say. And Dana, you're admired by so many people because you really don't care what people have to say or the pushback or the nonsense that you have to receive. And as a leader, you have to make decisions.

It's very easy for people, a spectator to say, oh, you know, you know, to kind of play you call Monday morning quarterback or all that kind of nonsense. Right. But here's the thing is you've been proven to be a patriot and an entrepreneur. And by the way, in a business that is not easy to to run, you know, I haven't run something your size, but, you know, I've run about one hundred million dollar deal here with Turning Point, Turning Point Action. And what we have going on here. And there's a lot of people that think they can always tell you what to do and they know what to do better than you. But, you know, Dana, I think it's important that people understand, though, that, you know, the attitude that you bring to the UFC, the attitude you bring to this country is one that has always pursued excellence, has been good for the country, good for your fans, good for your fighters. And honestly, you know, there are many other forks in the road, Dana, you've been through where people were overwhelmingly giving you negative feedback.

And it turns out your gut instinct was right. And as an entrepreneur and a leader, I'm sure you could, you know, reflect on those those situations. So I just I find it funny when people that have never built a darn thing in their life are willing to go sit on their tail and run their mouth against entrepreneurs and people that have worked 20 hour days for 30 years to build something beautiful and excellent. Your thoughts, Dana?

Yeah, I agree with you. I think that everybody's always going to you're always going to people out there that are going to have opinions. And the problem today is they all get the voice of on social media.

So we got to listen to everybody. But yeah, I've always been a person that, you know, I love my country. I love my family.

I love my business. And I'm always going to like, I'll give the best example is when COVID happened. The world's losing their mind.

Everybody's going crazy. I said, here's what I need to do. I need to focus on my people. It was a time when people were getting laid off scariest time ever.

In our lifetime, people are getting laid off, people don't know if they're going to die, or what's going to happen. We all stuck together, me and my crew, my family, my employees, my people that are close to me, and my fighters. So they believed in me, that I said, we're going to go through this and we're going to figure it out.

And we did it and we did it together. And that's the way I feel I'm always going to go, like you said, with my gut, with my heart, and with common sense, is how I lead. Yeah. And I mean, it's also you've had to manage insane issues. I mean, the Russia, Ukraine thing, Israel, Palestine thing through your talk about that, Dana, it's not as if you've been immune to controversy. But you've proven that you can do that in a way with freedom of speech issues, you know, threading the needle, having both sides equally respected and still producing an excellent type product. And I just want to reiterate this for people that are just tuning in, you know, because some people are emailing us, they say, oh, my goodness, you know, I have an issue with this. Let me just say, hold on. So this, first of all, shows the power of the conservative base. Look at the last six months.

The message has been received. So then what is what do you want? Would you rather have Anheuser-Busch go and sponsor some insane left wing wackadoodle thing? Or what do you say? Hey, we're going to go sponsor the most patriotic conservative sports league out there and say we want to make good for a mistake we made. Dana, just rationally, it's like, actually, it's moving the right direction, isn't it? And let me say this to the people that are listening. OK, now I get it. You can lose your minds and go, oh, they did this.

They did that. Let's break it down and look at it like this. Sixty five thousand Americans work for Anheuser-Busch. These are your uncles, your fathers, your brothers, your neighbors. You know, these are these are Americans here in America. Sixty five thousand of them work there, right?

They spend, Anheuser-Busch spends almost a billion dollars a year with U.S. farmers for their products to make the beer. OK, why would you want to put a bullet in that? Why would you want to hurt this company? They get it. You're pissed. The message received. OK, they got it. Now they're going to do a sponsorship deal with me. I am aligned with everything that they are about. All these things. Look at all the good things that Anheuser-Busch has done. And, you know, the time that they have been in business, look at all the good they have done. Now, you didn't like what they did with the can and all this other stuff?

OK, message received. Let's move on. What are we going to do? We're going to hurt, you know, all these American farmers that make the products to make the beer. We're going to make sure that 65,000 Americans get laid off.

Thousands of them are vets. Come on. It gets to a point where now it's just it's getting silly.

It's getting ridiculous. I'm very aligned with Anheuser-Busch. I'm excited to be in business with them for the next six years.

And we're going to do some cool stuff together and we're going to take care of a lot of people with this relationship. Well, that's also let's understand that Dana White spoke at the Trump Convention. He's been a huge MAGA donor and guy that other brands would consider Dana White too toxic.

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Call 800-875-0425, or go to, use promo code Kirk, promo code Kirk. So, Dane, I don't want to, you know, go too deep into private conversations, but it is true, though, that other sponsors in the past have sometimes gotten angry with some of your political statements. Is that fair to say?

Is that there have been other people that have tried to muzzle you? Our sponsors have been solid, man. Listen, I'm going to point, like I said earlier, in my life and in my career, I want to be with people that I'm aligned with. It's not about money anymore for me.

It's about being with like-minded people that, you know, feel the way I do, look at things the way that I do. Not everything is going to be perfect all the time, but I've had a great history with my sponsors. You know, I think when we're talking about, you know, the beer deal, when I was saying this was based on way more than money for me. So, for people to come out and say, oh, it's all about the money.

I already make money. We're making money. Sponsor, when you talk about what sponsorship means, guys come in and they give you money to have to be aligned with your brand.

They come in and they pay you to be aligned with your brand and put their logo wherever it is the logo goes. And everybody that comes into the UFC knows what this business is about. It's and what I'm about, what I stand for. And, you know, I don't have problems with sponsors these days.

You know, I'm not going to say that everything has been perfect or whatever, but for the most part, this decision to go with Bud Light was based on anything but money. So, Dana, there's been a fair amount of criticism from just general people towards sports in general. How have you navigated, you know, staying loyal to your audience and delivering excellent products and not pandering to all of this like end racism? I can't watch an NFL game anymore, Dana, without kind of the virtue signaling stuff. How have you allowed UFC to rise above it? I mean, Don, Trump comes to your events.

It's as if he's walking into a MAGA rally, as you mentioned, even in downtown San Francisco. And it's one of the few sporting events I can watch where masculinity is elevated, where I don't feel as if there's all these external pressures. How have you really allowed UFC to be immune from all of these different pressures and infiltration campaigns that we've seen with these other sport leagues?

Well, it's common sense. We stay out of politics we stay out of politics. As far as the UFC goes, the business, we stay out of politics. Donald Trump has been a fan of this thing since day one. When this first started, arenas didn't even want the UFC. Trump and I started a relationship 20 something years ago because he actually picked up the phone and reached out to us and said, hey, bring it to the Taj Mahal. And we'd love to have you. We did our first two events there.

And ever since then, he and I have been friends. So he has always been a fixture inside UFC anyway. But other than that, if I have support politically, I do that on my own personal social media.

I do that on my own stuff. I don't integrate politics into the UFC. Even during COVID, when we were putting on events, we never talked about COVID during the event. You didn't see people wearing masks if we didn't have to.

We were inside the bubble. And we didn't talk about any of that stuff. Sports is supposed to be an escape away from all the other crap that's going on in your life. You get to sit down on the couch, whether it's with your family, your friends, whoever, and enjoy a sport without any of the nonsense. You want all that other nonsense? Turn on any other channel.

Turn on the radio, the TV. It's coming at you 50 different ways. It should not be involved in sports.

No, it's exhausting and it deteriorates the product. So Dane, I just want to say in closing, you've been an amazing American patriot. You stuck your neck out for Donald Trump and other people ran to the hills. I was there in 2016 in Cleveland and you gave one of the most powerful speeches about loyalty, about friendship, about your love of this country. And you have personally been attacked by the media time and time again, but you always rise stronger in a lot of different ways.

People have compared you and Trump together. And I know that friendship is as tight as ever. And that was really, really admirable to me.

Any closing thoughts, Dana White? No, I appreciate it. And thank you.

Yes. Obviously, I run a global business and like you were saying earlier, I love this country and I love these kids that fight for me who love their countries, whether you're from Russia or you're from wherever in the world. When we were talking about the Russian thing, I didn't shut down and boycott my Russian fighters.

They don't determine what happens in their country. They're just trying to make a living and live their life just like everybody else. And, you know, the world has lost its mind and I'm just trying to run this business with a little bit of common sense.

That's it. You've been doing a great job. Dana White, thanks for joining us and thanks for taking a stand for our country and always having our presidents back. Thanks so much, Dana. Thanks for having me, buddy. I know there's a lot of emails people are saying, you know, what you would expect, but I just want to ask a very simple question.

OK, just email me this. What is the best outcome that you would like to see happen with Anheuser-Busch? When do you declare victory?

I'm just I'm curious. I'm not even stating that I know the answer to this question. So you might say we want to bankrupt them into oblivion and destroy the company. That probably won't happen. They'll probably still exist. They have tons of capital.

Would you rather see them go sponsor like the most radical like Drag Queen Story Hour or UFC? That's a serious question I want you to think about. OK, putting capital behind Dana White, one of those outspoken conservatives and MAGA supporters out there, is that a success? Looks like they're trying to win over the people that they upset the last six months.

Something to think about. Hey, everybody, Charlie Kirk here. When the government used emergency edicts during COVID to restrict the gathering and worship of churches, three pastors facing the risk of imprisonment, unlimited fines and their own churches being ripped apart, took a courageous stand and reopened their doors in the face of a world that chose to comply. The Essential Church is a feature length documentary that explores the struggle between the church and government throughout history. The story uncovers those who have sacrificed their lives throughout history for what they believe in. Rediscover why the church is essential and how we prove this stand remains true from a scientific, legal and most importantly, a theological and biblical perspective. This is not your typical movie.

It will change your life. You need to see this movie with your family and friends. The Essential Church is streaming today exclusively at That's Essential Church movie streaming at That is Check out the Essential Church movie. It's terrific.

So go to right now. We're told that the economy is better than ever. It's 4.9% growth. GDP growth.

They say it's the greatest number ever. It reminds me of a newspaper clipping from Pravda, which means truth in Russian, where they would send out all these announcements. And it was in the midst of a famine. And they'd say, greatest harvest ever. And the kulaks would say, there's no food. It's a greatest harvest ever.

If you disagree, go to a gulag. Joining us now is Stephen Moore, co-founder of the Committee to Unleash Prosperity. Stephen, 4.9% greatest economy ever.

Your reaction? Yeah, I would rather than calling it GDP gross domestic product, we should call this government domestic product. Because do you know what the fastest component of the growth was? Yeah, it's spending of the $6 trillion of the federal budget, right? Yes.

Yes. This is basically a house of sand we've created. We've created a $33 trillion national debt, about $6 trillion, which was added just in the last two years, Charlie. We've got government spending out of control. The biggest employer, the biggest industry that's added workers this year, you know what that is? Government.

So this is all this kind of phantom recovery. It's all built on government debt and government spending. When, in fact, we want government debt and spending to be falling, not rising.

If you look at the domestic side of the, you know, business side of the equation, it's not looking very good. Look, when you have 70% of Americans, Charlie, who've been telling pollsters for the last same thing for the last two years, whether it's the Fox poll or the Gallup poll or the MSNBC poll, when you have 70% saying that the U.S. economy is headed in the wrong direction, and another 70%, maybe the same 70%, saying that their own personal finances are worse today than they were three years ago, that's telling you that Americans are onto this gambit. They get it, that this is an economy that feels like it's running on fumes right now, and I think that happens to be true. So says this is a, quote, stellar economic report. Stellar economic report.

In my experience, Steve, in life, if you have to tell people something is stellar, then it really isn't that stellar, right? Usually you just kind of know it, like, hey, my wages are going up, everything is more expensive, and it is a, I think we would agree, Steve, it's a goofy economy, right? It is strange with the stock market asset prices, but the most important thing that I hope people highlight is that this is not actual small business entrepreneurial driven economic growth. This is largely driven by deficit spending, isn't it, Stephen?

Yes, absolutely. And look, it is true that a 4.9% economic growth rate is a really good number, and there are jobs out there, so that's the good news on the economy. The bad news is, as you just said, that it's all built on debt, and by the way, not just government debt, and absolutely that's the main driver, but if you look at what's happened with the, and this is shown in the report, that consumers spent a lot of money, and so it's basically government spending and consumer spending that created this good number, but guess what, Charlie, where are the consumers getting the money? They're going into debt themselves. We now, did you know we now have $1 trillion of credit card debt?

This thing is going to bust up, it's going to blow up. Well, it's almost as if they want it to blow up, and so let's talk about the inflation number. You know, they're saying inflation is 5%. You know, I talk to any business owner, costs are up anywhere between 15% to 20%, Steve. What is the actual inflation number?

And how do we calculate it? Well, you're raising another good point is that, you know, if you look at the official forecast, you know, numbers right now, they say inflation is 4 to 5%. By the way, remember, I want to remind your listeners and viewers that when Trump left office, the inflation rate was 1.9%, or I mean, less than that, I think it was like 1.8%, 1.7%.

Then we went to, remember, we went to 9.2% this time last year. Now, it's come down a bit, that's, thank God, it's come down, but the fact is, when I, literally, when I'll be walking down the street and somebody will recognize me from being on the Charlie Kirk show or being on Fox News, and people will accost me, and they'll say, why do you keep saying inflation is only 5%? They say to me exactly what you said, Charlie, they say, my groceries are up by 20%, my gas is up 50%, my mortgage is up 40%. The things that people have to buy are way, way higher than this official number. Yes, and I mean, you look at one thing in particular, if you are a young millennial, 28 to 30, 25 to 35 years old, and you want to buy a home, it is harder than ever for two reasons. Firstly, the asset price is super inflated, and it's not going to come down.

Secondly, no one wants to build new inventory because it's so expensive, right? So therefore, prices go up, and then the price of money is really high. And so just a very basic thing, can your young people buy homes and be invested in the American... Talk about that, Steve, because a huge part of my audience says, Charlie, what American dream? I'm renting for $3,800 a month.

I'm renting for $4,200 a month. Steve, that's really bad for the country. It's actually bad for our politics, too.

It creates almost many socialists if you don't end up owning property. Yeah, again, well put, Charlie. And you get an A in economics today, my friend, because you're hitting all the right buttons. And the fact is that if you look at what happened, again, I like to go back to Trump. As you know, I work for Trump. I'm proud of what we did.

I mean, it's so interesting. Even when I talk to people who hate Trump, I say, okay, maybe you don't like some of the things he says or some of his actions or January 6th, but you've got to love what he did, his policies. And then they say, yeah, I kind of like his policies. Well, the policies worked. And one of the policies was to obviously produce American energy, to bring inflation down. And we did. Inflation rate, and the more...

Here, let me give you another one. The mortgage rate when Trump left office was 3%. Now it's 8%.

Now this this makes your point. So if you want to buy an average priced home today, which is about $450,000 to $500,000, you're going to, you used to have to pay about $1,500 a month mortgage payment. Now you're going to pay $3,200 a month.

So in other words, the mortgage payments have doubled on a house for 30 years. Who can afford that? No one can. No. And yet what's amazing though, Steve, is that you're not seeing home prices go down dramatically. So why? They are going to go down. Okay.

I think they have to, right? I don't always make predictions and it's always tough to, you know, figure out what's going to happen with energy or housing, but I'm going to make a prediction on your show. Housing prices are going to have to come down because people, and just even in the area that I live, and I live in Washington where, you know, we're recession proof, right? In Washington DC, even in Washington DC, the house home prices are starting to come down because people can't afford it any longer. Those higher mortgage rates hurt the home buyer because you have to pay more mortgage interest rates. And they hurt someone like myself who owns a home because guess what?

Biden has depressed the value of my property. Yeah. It's just kind of a chicken and the egg thing. In certain markets, I see that. But, you know, for example, here in Phoenix, which is one of the fastest growing, if not the fastest growing market, there just isn't inventory enough to then depress home prices, right? So can you talk about that? If you're a developer, you're an entrepreneur, you say, hey, I'm going to go buy, go build, you know, 800 homes, right?

Like Dell Webb did in the Western part of Phoenix. Well, the price of money is so much of why would I go take that risk? Meanwhile, you have labor issues, supply chain issues. You have people that would say, I'd rather sit on the money than go deploy a hundred million dollars in equity and $200 million in debt.

It's not worth it. So I agree, Steve, in certain markets where there is, there is over oversupply, but in some of the hot markets that are hot as a pistol, Dallas, Atlanta, Austin, Houston, and Phoenix, Denver, I don't know if that's going to happen. So again, you make a good point because America is really two countries, right? I talked about this over the last, it's red state America and it's blue state America. So blue state America, where people are moving out of, you're seeing a big, big decline in housing values, but you're living in Arizona, which is a red state, mostly a red state.

You got to keep it red. Will you please make sure that Arizona stays red? But you know, Arizona is a hot market. So you're going to probably see a lot of demand because you've got all these blue state people moving in. But I'll give you an example of how fragile the housing market is right now.

This week, it was reported by Bloomberg that the number of new mortgage applications has fallen to its lowest level in 20 years. Wow. That's, that's not a good harbinger for things to come. Can you just say that one more time for our audience? Just repeat that really quick.

Yes. The number of people, Americans who are, who are applying for a mortgage to buy a house, that number has fallen to its lowest level in 20 years. Steve Moore, by the way, the CNN article is so proud to ask. We are living in the Soviet Union. While why Biden's strong economy feels so bad to some, so most to most Americans, really, if it's so great, why does nobody think it's great?

So Steve Moore is with us. So Steve, let me just play devil's advocate because during the Trump administration, I remember one time there was a big celebration when Trump said, you know, almost 4% growth, I think it was like 3.8%. What makes this different than the actual material economic healthy growth that you helped engineer and you helped pioneer under President Trump? Well, first of all, I'll say that even Donald Trump spent and borrowed too much money. And I tell the president that when I see him. So, you know, politicians like to spend money, and I'm not going to just blame Democrats for this, you know, $33 trillion of debt we have right now, Charlie. I mean, unfortunately, it's both parties to run up this debt, and it's immoral, and it's going to blow up and really bankrupt our country if we stay on this course. But look, the growth under Trump was private sector growth. We have too much government, but most of it was driven by investment, new technology, increases in manufacturing, and we saw big, real income gains for median income families.

So from the four years that Trump was in office, according to the Census Bureau, so that's the gold, you know, gold standard of economic data, they found that the average family income rose by $6,400 when Trump was president. That's a lot. You know what the number is for Biden so far? Hmm. Negative 2000. Wow.

Wow. So, Steve, another question our audience has is about the stock market. Why is it that the stock market, it went down a little bit earlier in the year, and then we had these bank failures, and they were posting 400, 500 point losses on the Dow, and then it kind of almost went up. The working theory that makes sense to me is that the Fed quietly expanded its balance sheet back in the spring when all these bank failures occurred. And when the Fed expands its balance sheet, cause and effect, you're going to see asset prices go up. We see hyperinflated priced earning ratios continuing. I think that 33,000 on the Dow is still so ridiculously overpriced, considering how crummy the economy is.

And how many dollar bills are still on the sidelines, Steve Moore? Well, first of all, let's talk about the stock market because from the time that Ronald Reagan was president through the end of the Trump administration, we saw the biggest boom in the wealth of American households in the history of the world, where the Dow went from 1,000 to 33,000. And so, never bet against the American economy. Never bet against the US economy and American businesses.

We're the best in the world. Now, that being said, now, since Biden's come into office, the Dow was roughly, I don't remember the exact number, it was around 33,500 when Trump left office. And it's about 33,500 today.

So you'd think, oh, it's being leveled. But no, it's not level because of 18% inflation. So in real terms, the stock market's down by 18 to 20% since Biden came in. And that's killing people's 401k plans. That's such a great point that if the stock market does not keep up with inflation, then you're actually losing. So you can't just look at the chart and say, oh, okay, we're doing all right. And this is what is so frustrating to everyday Americans. And it puts unnecessary, I think real inflation is near, again, 15 to 20%.

Forget all this nonsense, right? Is that therefore, if you're, let's say you have a Schwab account or TD Ameritrade or whatever, or you have a wealth advisor, if you're at the end of the year, when you get your reports, if you are not posting a 15 to 20% return on investment, you're actually getting poorer. Aren't you Steve?

That's exactly right. We estimate that the average 401k plan, and I've got the vast majority of people, you know, watching or listening to this show have a 401k plan has lost about $30,000 since Biden came into office. So that's a big loss in people's wealth and their retirement income. In closing, Steve, it's really simple. We need to cut spending. And so if we don't dramatically cut spending, I'm talking about trillions of dollars of immediate and long-term spending, then we are going to live through a perpetual new normal of structural inflation of 10 to 15% annually.

Yes. So I want to, I know we're running out of time. I want to mention two things related to what you just said, because Charlie, you know that now Congress wants to spend another a hundred billion dollars while Biden on this eight, these eight packages. Now people may have different opinions on whether to do it or not. I'm against it, but even if we do spend that money, I think it should come with two conditions. Okay. Ready Charlie? Yes.

Number one, that every single penny of any of this aid that goes to Ukraine and Israel should be paid for by cutting other government spending. So simple. I totally agree. Yes. Okay. Number two, ready for number two?

Yes. All of this craziness that's going on in the world, what's happening in the Ukraine, what's happening with Hamas, all of this is a direct result of Biden's war on American energy. If I were in Congress, I would say, if I were a Republican, and this is what I want you to help me on, Republicans say, we're not giving one dime of more money for this until you open the spigots and produce more American energy. That's the best way to stop the terrible. And also opening up the financing.

That's the problem is that oil and gas entrepreneurs can't get access to capital. Thanks so much for listening. Everybody email us as always freedom at Thanks so much for listening and God bless. and walk around the office on eggshells and have my words policed by HR words like grandfather peanut gallery long time no see no can do when I grow up I want to be obsessed with emotional safety and do workplace sensitivity training all day long when I grow up I want to climb the corporate ladder just by following the crowd I want to be a conformist I want to weaponize my pronouns what are pronouns it's time to grow up and get back to work introducing the number one woke free job board in america red balloon dot work
Whisper: medium.en / 2023-10-26 18:08:01 / 2023-10-26 18:24:40 / 17

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